buff22
Short

Strength in the Market Waning- 3x Leveraged Short Play

AMEX:UDOW   PROSHARES ULTRAPRO DOW30
The sideways market looks to be coming to an end, with the odds heavily in favor of a sell off next week. S
mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop.
Using the strong resistance at 54.40 as an entry point, first target is at $49.10, and the second around $46.50-$46.00.
Short trades will be executed through correlating prices in SDOW             .
Conversely, if the market gains strength and can reach and hold above around $46.70, it would indicate a very strong market and a good chance for a partial recovery into the end of the year. This would be an area in which to take a long.
Just my opinions.

English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out